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My Budget Wishlist.
Shivaji Dam, Managing Director, OM Kotak Mahindra Life Insurance.
What kind of benefits do you look forward to from the
forthcoming budget for the insurance sector?
I look forward to special benefits under Section 80 of the
Income Tax - investments for insurance from the budget. I
also look forward to concessions on premium payment on policies.
What about agents and other intermediaries such as brokers,
corporate agents etc?
Well, I think the budget session may bring forth a few reforms
like rolling bancassurance and also addressing the issue of
intermediaries - corporate brokers etc.
What benefits will the approaching budget bring for policyholders?
For policyholders the budget hopefully will bring tax exemptions
for pension products. A proper pension system needs to be
put in place and more flexibility needs to be accorded considering
the market potential. Its high time the government takes up
the pension issue.
When will your company introduce pension/annuity products?
Pension products - let the framework be in place and then
we will think about it.
Your overall hopes from the budget please
I hope it is a big bang budget. It should give the much needed
boost to the economy and also help in bringing down the deficit
substantially.
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